Sterling Investment Counsel LLC Has $4.69 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Sterling Investment Counsel LLC boosted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 35.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,588 shares of the computer hardware maker’s stock after buying an additional 10,037 shares during the period. NVIDIA comprises 1.7% of Sterling Investment Counsel LLC’s portfolio, making the stock its 14th largest holding. Sterling Investment Counsel LLC’s holdings in NVIDIA were worth $4,686,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Lowe Wealth Advisors LLC bought a new stake in NVIDIA in the second quarter valued at about $25,000. DHJJ Financial Advisors Ltd. boosted its holdings in NVIDIA by 1,900.0% during the second quarter. DHJJ Financial Advisors Ltd. now owns 200 shares of the computer hardware maker’s stock valued at $25,000 after purchasing an additional 190 shares in the last quarter. CGC Financial Services LLC bought a new stake in shares of NVIDIA in the 2nd quarter valued at approximately $26,000. Koesten Hirschmann & Crabtree INC. acquired a new position in shares of NVIDIA in the 1st quarter worth approximately $27,000. Finally, Quest Partners LLC bought a new position in shares of NVIDIA during the 2nd quarter worth approximately $27,000. Institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

NVDA has been the subject of several recent analyst reports. Phillip Securities reiterated an “accumulate” rating and set a $160.00 price objective (up from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. HSBC increased their target price on shares of NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Redburn Atlantic began coverage on shares of NVIDIA in a research note on Tuesday, November 12th. They set a “buy” rating and a $178.00 price objective on the stock. Evercore ISI lifted their target price on shares of NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, Wells Fargo & Company increased their price target on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Stock Performance

Shares of NVDA opened at $138.25 on Monday. The firm has a market cap of $3.39 trillion, a P/E ratio of 54.43, a PEG ratio of 2.50 and a beta of 1.66. NVIDIA Co. has a twelve month low of $45.01 and a twelve month high of $152.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The firm’s 50 day moving average price is $136.05 and its two-hundred day moving average price is $124.11.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm’s revenue was up 93.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 EPS. On average, analysts forecast that NVIDIA Co. will post 2.76 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.01 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.57%.

NVIDIA declared that its Board of Directors has authorized a stock buyback plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 billion in shares. This repurchase authorization authorizes the computer hardware maker to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $116.51, for a total transaction of $524,295.00. Following the completion of the transaction, the insider now directly owns 492,409 shares of the company’s stock, valued at $57,370,572.59. This trade represents a 0.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. This trade represents a 14.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,036,986 shares of company stock worth $240,602,399. 4.23% of the stock is owned by corporate insiders.

NVIDIA Profile

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.